UK public debt projected to almost triple by the mid-2070s – business live

Ageing population, climate change, and rising geopolitical tension risk pushing the public finances on an unsustainable path, Office for Budget Responsibility warns

European stock markets are rallying this morning, as traders anticipate an interest rate cut from the European Central Bank this afternoon.

Germany’s DAX index is up 1.1%, while France’s CAC 40 is 0.6% higher.

The market is firmly priced for a 25bp rate cut at next week’, We and the analyst consensus are expecting a 25bp rate cut and most ECB speakers have already endorsed such a move.

The recent slowdown in China has seen its oil consumption declining y-o-y for a fourth consecutive month in July, by 280 kb/d.

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